MAXICITY (ASX: 02295) and Green Global Energy Limited have issued a joint announcement regarding a significant transaction. On June 21, 2026, a sale and purchase agreement was executed between the seller, a guarantor, and the offeror. Under this agreement, the offeror has agreed to acquire, and the seller has agreed to sell, a total of 300 million shares. This block represents 75% of the company's total issued share capital as of the joint announcement date, for a total consideration of HK$196.35 million, equating to HK$0.6545 per share. The completion of this acquisition occurred on June 22, 2026.

This transaction triggers a mandatory unconditional cash offer obligation under Rule 26.1 of the Takeovers Code. The offeror is required to make an offer for all issued shares not already owned, or agreed to be acquired, by the offeror, Ms. Zhu, or any of their concert parties. The offer price is set at HK$0.6545 per share. This price represents a discount of approximately 65.6% compared to the closing price of HK$1.90 per share on the Hong Kong Stock Exchange on the last trading day prior to the announcement, which was June 18, 2026.

As of the date of the joint announcement, the offeror is directly and wholly beneficially owned by Ms. Zhu Liming, who also serves as the offeror's sole director. The offeror currently holds an interest in the 300 million shares mentioned. Following the completion of the offer, the offeror intends for the group to continue its existing principal business operations and to maintain the company's listed status.

The offeror plans to conduct a review of the group's business activities and assets. This review will inform the development of future business plans and strategies for the group's growth. Depending on the outcomes of this assessment, the offeror may explore other commercial opportunities. It may also consider the suitability of various corporate actions, which could include asset sales or acquisitions, business streamlining, divestments, financing arrangements, restructuring, and/or diversification efforts. The objective of any such actions would be to enhance the group's long-term growth potential.

It was noted that, as of the joint announcement date, the offeror has not identified any specific investment or business opportunities. Furthermore, no agreements, arrangements, understandings, or negotiations have been entered into regarding the injection of any assets or businesses into the group. The company has applied to the Stock Exchange for the resumption of trading in its shares, which is scheduled to commence at 9:00 a.m. on July 3, 2026.